Depression Beater Portfolio: - see below - No Update (This portfolio is just a sample of my own portfolio - no recommendation to others is implied or intended)
8/10/10 (Commentary for Tuesday) We did not get the pattern expected - weak import news from China gave us an early sell off. The Chinese news is validating the plunging BDI Index and shows a slowing global economy. We were not impressed with the post-Fed announcement market action either - our target of SPX=1145 is still viable but market internals have to hold up here to keep our interest. The Bradley turn day may have come on Monday. Gold responded positively to the QE update from the Fed - but gold is due 1-Day Reversal Timing tomorrow and with the late day rally we would expect a short-term top tomorrow. Bonds rallied today and appear to smell a weakening economy - a test of the December 2008 highs is in progress. Crude oil's weak action since Friday is also telegraphing equity weakness. After nine consecutive weeks of decline, the Dollar Index gave us a 5-wave rally pattern on the 5-min chart – this may also be arguing that a turn down in equities is close.
TURNING POINT DAY
Tuesday is an important turning point day with the New Moon + Bradley turning point day - could see the high for the week.
Depression Beater Portfolio: New Updates: (This portfolio is just a sample of my own portfolio - no recommendation to others is implied or intended Holdings:
1) Long 75 shares of SDS at an average price of 103.2249 on 11/18 - roughly 15% of portfolio. (The SDS price was hit by a cash distribution today that I did not anticipate - $11.46 a share - sorry for the lack of warning here - ETFs like mutual funds have late in the year distributions that need to be avoided if possible if you're in a taxable account)
2) Long 200 shrs of CHK at $16.00 on 12/1.
SOLD 200 shrs of CHK @ $20.82 on 4/16/09
3) Long 2000 shrs of SNG at $1.20 on 12/2.
4) Long 1000 shrs of DXO (2 X long crude oil ETF) at $2.84 on 12/10
SOLD 1000 shrs of DXO at $2.97 on 4/17/09
5) Long 500 shrs of DRYS at $11.87 on 12/17
SOLD 500 shrs at $5.62 on 4/16/09
6) Long 500 shrs of AUY at $5.89 on 12/17
7) Long 1000 shrs of TCK at $4.50 on 12/19
SOLD 500 shrs at $8.77 on 4/16/09
SOLD 500 shrs at $8.30 on 4/21/09
8) Bought 100 shrs of TBT @ $37.50 on 12/31
SOLD 100 shrs of TBT @ $49.51 on 1/26/09
REPURCHASED 100 shrs of TBT @ $47.39 on 2/5/09
9) Bought 1000 shrs of NG @ $1.61 on 1/12/09
10) Bought 100 shrs of COP @ $49.01 on 1/16/09
11) Bought 200 shrs of AMSC @ $16.50 on 1/16/09
SOLD 200 shrs of AMSC @ $20.36 on 4/17/09
12) Bought 2000 shrs of HL @ $1.80 on 2/6/09
13) Bought 1000 shrs of THM @ $2.08 on 2/9/09
14) Bought 1000 shrs of KBX @ $1.15 on 12/22/09
Working orders:
1) Buy 1000 shrs AAU @$0.95 GTC